Nuclear startup Oklo drops on $400 mln equity raise

Shares of Oklo OKLO.N, nuclear technology startup backed by billionaire OpenAI CEO Sam Altman, down 4.9% premarket to $61.31 after follow-on priced

Santa Clara, California-headquartered Oklo late Thurs sold ~6.7 mln shares at $60 for $400 mln gross proceeds

Offering priced at 6.9% discount to last sale

On Weds, OKLO shares soared nearly 30% to $68.03, a record high close, as co moves closer to power purchase agreement with U.S. Air Force

OKLO shares on Thurs closed down ~5% after co launched stock offering for general purposes, working capital, capex and potential future investments

Goldman Sachs and BofA are lead bookrunners for the offering

Co has ~139.5 mln shares for ~$9 bln market cap

Shares have tripled in 2025 through Thurs

Oklo went public in May 2024 after merging with SPAC sponsored by Altman, who stepped down as chairman in Apr this year

8 of 10 analysts covering OKLO rate stock "strong buy" or "buy", rest rate "hold" with median PT of $56.50 - LSEG data